Institutional customers purchase goods for resale, production use, or organizational operations. They include producers, wholesalers, retailers, government agencies, and other organizations. Their buying process involves 7 steps: identifying needs, specifying products, identifying suppliers, inviting proposals, evaluating proposals, making purchase decisions, and evaluating performance. Their decisions are influenced by environmental factors like the economy and technology, organizational factors like objectives and policies, interpersonal factors like authority and status within the organization, and personal factors of individual buyers like age, education, and job position.
important Organizational buying behavior aarati jadhav
This document discusses organizational buying behavior. It defines organizational buying as the process by which organizations identify needs, evaluate options, and choose products and suppliers. It describes the characteristics of organizational buying, including large purchase quantities and involvement of multiple people within the organization. The document outlines different types of organizational buying situations and the major influences on business buyers, including environmental, organizational, interpersonal, and individual factors. It then details the stages in the organizational buying process and concludes by identifying the different roles involved in organizational buying decisions, such as users, influencers, deciders, and approvers.
Organizational buying behavior involves a decision-making process where organizations identify needs, evaluate alternatives, and select suppliers for products and services. There are key differences between organizational and personal buying. Organizational buying involves more people in the decision process, a focus on technical specifications, direct purchasing from manufacturers, and fluctuating demand driven by consumer demand. The buying process involves problem recognition, defining needs, specifying requirements, searching for suppliers, evaluating proposals, selecting suppliers, ordering, and reviewing performance. Factors that influence organizational buying decisions include environmental factors like technology and competition, organizational factors like objectives and policies, and interpersonal and individual factors of decision-makers.
The document discusses business buying behavior and the decision making process for purchasing products and services. It notes that business markets have fewer and larger buyers than consumer markets, leading to close supplier-customer relationships. The business buying process involves multiple people in initiator, user, influencer, decider, approver, buyer, and gatekeeper roles. Business purchasing decisions are influenced by environmental, organizational, interpersonal, and individual factors. There are different orientations companies can take toward purchasing, such as buying, procurement, or supply chain management.
1) Consumer and organizational buying behavior differ in who is involved in the decision making, the motives behind purchases, and how rational/technical the process is. Organizational buying involves functional teams while consumer buying is usually an individual.
2) Consumer buying decisions involve need recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation. Personal factors like demographics, attitudes, and social influences impact consumer decisions.
3) Organizational buying involves determining needs, searching for suppliers, analyzing proposals, selecting suppliers, and providing feedback. Economic and emotional criteria are used at different stages by various decision makers in the organization.
This document discusses business markets and business buyer behavior. It defines business markets as markets where organizations purchase goods and services for resale or use in production. The key characteristics of business markets are fewer but larger buyers, demand derived from final consumer demand, more inelastic demand that fluctuates quickly. Business purchases involve multiple buyers in a formal buying process. The document outlines the business buying process and different types of buying situations. It also discusses the participants in the buying center and major influences on business buyers, including environmental, organizational, interpersonal, and individual factors. Finally, it briefly touches on institutional markets that serve organizations like hospitals and schools, as well as government markets.
Marketing 1_The Buying Behavior of Organizational MarketsLeomar Jay Oblianda
This document discusses organizational markets and buying behavior. It defines organizational marketers as those who buy goods for production or resale purposes, categorizing them as industrial, reseller, government, or non-profit marketers. It also contrasts organizational versus consumer markets, noting characteristics like few buyers, close supplier relationships, and professional purchasing in organizational markets. The document outlines the buying process in organizations, including recognizing needs, searching for information, evaluating suppliers, making purchases, and evaluating performance. It discusses factors that influence organizational buyers like economic considerations, personal relationships, and environmental, organizational, interpersonal, and individual factors.
This document is a mini project report submitted by Vidhun Krishna VS to fulfill requirements for a Master of Business Administration degree from Bangalore University. It examines factors influencing organizational buying behavior. Key factors discussed include environmental factors like economic conditions and competition; organizational factors like objectives and policies; and interpersonal factors like authority and status within the organizational hierarchy. The report aims to understand how these various internal and external stimuli shape an organization's process for selecting, evaluating and purchasing goods and services.
important Organizational buying behavior aarati jadhav
This document discusses organizational buying behavior. It defines organizational buying as the process by which organizations identify needs, evaluate options, and choose products and suppliers. It describes the characteristics of organizational buying, including large purchase quantities and involvement of multiple people within the organization. The document outlines different types of organizational buying situations and the major influences on business buyers, including environmental, organizational, interpersonal, and individual factors. It then details the stages in the organizational buying process and concludes by identifying the different roles involved in organizational buying decisions, such as users, influencers, deciders, and approvers.
Organizational buying behavior involves a decision-making process where organizations identify needs, evaluate alternatives, and select suppliers for products and services. There are key differences between organizational and personal buying. Organizational buying involves more people in the decision process, a focus on technical specifications, direct purchasing from manufacturers, and fluctuating demand driven by consumer demand. The buying process involves problem recognition, defining needs, specifying requirements, searching for suppliers, evaluating proposals, selecting suppliers, ordering, and reviewing performance. Factors that influence organizational buying decisions include environmental factors like technology and competition, organizational factors like objectives and policies, and interpersonal and individual factors of decision-makers.
The document discusses business buying behavior and the decision making process for purchasing products and services. It notes that business markets have fewer and larger buyers than consumer markets, leading to close supplier-customer relationships. The business buying process involves multiple people in initiator, user, influencer, decider, approver, buyer, and gatekeeper roles. Business purchasing decisions are influenced by environmental, organizational, interpersonal, and individual factors. There are different orientations companies can take toward purchasing, such as buying, procurement, or supply chain management.
1) Consumer and organizational buying behavior differ in who is involved in the decision making, the motives behind purchases, and how rational/technical the process is. Organizational buying involves functional teams while consumer buying is usually an individual.
2) Consumer buying decisions involve need recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation. Personal factors like demographics, attitudes, and social influences impact consumer decisions.
3) Organizational buying involves determining needs, searching for suppliers, analyzing proposals, selecting suppliers, and providing feedback. Economic and emotional criteria are used at different stages by various decision makers in the organization.
This document discusses business markets and business buyer behavior. It defines business markets as markets where organizations purchase goods and services for resale or use in production. The key characteristics of business markets are fewer but larger buyers, demand derived from final consumer demand, more inelastic demand that fluctuates quickly. Business purchases involve multiple buyers in a formal buying process. The document outlines the business buying process and different types of buying situations. It also discusses the participants in the buying center and major influences on business buyers, including environmental, organizational, interpersonal, and individual factors. Finally, it briefly touches on institutional markets that serve organizations like hospitals and schools, as well as government markets.
Marketing 1_The Buying Behavior of Organizational MarketsLeomar Jay Oblianda
This document discusses organizational markets and buying behavior. It defines organizational marketers as those who buy goods for production or resale purposes, categorizing them as industrial, reseller, government, or non-profit marketers. It also contrasts organizational versus consumer markets, noting characteristics like few buyers, close supplier relationships, and professional purchasing in organizational markets. The document outlines the buying process in organizations, including recognizing needs, searching for information, evaluating suppliers, making purchases, and evaluating performance. It discusses factors that influence organizational buyers like economic considerations, personal relationships, and environmental, organizational, interpersonal, and individual factors.
This document is a mini project report submitted by Vidhun Krishna VS to fulfill requirements for a Master of Business Administration degree from Bangalore University. It examines factors influencing organizational buying behavior. Key factors discussed include environmental factors like economic conditions and competition; organizational factors like objectives and policies; and interpersonal factors like authority and status within the organizational hierarchy. The report aims to understand how these various internal and external stimuli shape an organization's process for selecting, evaluating and purchasing goods and services.
3. Consumer And Business Buyer Behavior1Nitin Shukla
The document discusses consumer and business buyer behavior. It describes the buyer decision process as having 5 steps - need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. It also discusses the adoption process for new products as having 5 stages - awareness, interest, evaluation, trial, and adoption. Finally, it outlines the business buying process and key differences between consumer and business markets.
Organizational markets differ from consumer markets in several key ways. Organizational markets have fewer buyers, closer supplier relationships, geographical concentration, derived demand, larger buyers, inelastic demand, and fluctuating demand. Organizational markets include industrial markets, reseller markets, government markets, and nonprofit organizations. Organizational buying involves multiple participants and stages including problem recognition, information search, supplier evaluation, purchase, and performance evaluation. Many factors influence organizational buyers including economic considerations, personal relationships, environmental factors, organizational characteristics, interpersonal dynamics, and individual preferences.
Chapter 3: The Buying Behavior of Organizational MarketsStephanie Arogante
Organizational markets differ from consumer markets in several key ways. Organizational markets have fewer buyers, closer supplier relationships, geographical concentration, derived demand, larger buyers, inelastic demand, and fluctuating demand. Organizational markets include industrial markets, reseller markets, government markets, and nonprofit organizations. Organizational buying involves multiple participants and stages including problem recognition, information search, supplier evaluation, purchase, and performance evaluation. Many factors influence organizational buyers including economic considerations, personal relationships, environmental factors, organizational characteristics, interpersonal dynamics, and individual preferences.
The document discusses various aspects of business-to-business (B2B) marketing such as:
1) B2B marketing involves marketing products and services to other businesses rather than directly to consumers. The purpose is to make other companies familiar with the brand and convert them into customers.
2) There are key differences between B2B and business-to-consumer (B2C) marketing like the target audience, communication style, decision-making process, and goals of customers.
3) Organizational buying behavior is complex and involves multiple individuals and stages like need recognition, supplier selection, and performance review. Models like the buygrid framework and Webster and Wind model provide structure to understand this process
Buyer behavior refers to the decision-making process and actions of individuals and organizations in purchasing products. There are three main types of buyer behavior: consumer behavior by individuals for personal use, organizational buying behavior involving formal decision making by companies, and routine, limited, or extensive purchase decisions by consumers based on the complexity of the purchase. Factors that influence buyer behavior include economic, personal, psychological, socio-cultural, environmental, organizational, interpersonal, and individual considerations.
The document discusses business-to-business (B2B) markets and buyer behavior. It outlines the key characteristics of B2B products and markets including fewer but larger buyers, complex products, and fluctuating demand. The document also describes the different types of B2B buying situations, participants in the buying process, and influences on business buyers. Finally, it provides an overview of the typical 8-step buying process for businesses.
Analysing consumer buying behaviour and industrial buying behaviourSUJIT DAS
This document summarizes and compares consumer buying behaviour and industrial buying behaviour. It discusses the key determinants and factors that influence each type of buying behaviour. For consumer behaviour, it outlines internal factors like demographics, attitudes, motivations and learning that affect purchases. External factors discussed include culture, social class, family influences and the consumer decision process. For industrial buying, the stages of the decision process are presented, from recognizing needs to post-purchase evaluation. Key participants like initiators, users and influencers are also identified. Finally, the document compares consumer versus industrial buying, noting differences in purpose, quantity purchased, decision making process, knowledge levels and relationship with sellers.
Organizational buyer behavior refers to how organizations purchase goods and services for use in production or resale. It differs from consumer behavior in several ways. Organizational buying involves multiple people in a buying center and a complex decision process. This process typically begins with problem recognition, develops product specifications, searches for suppliers, solicits proposals, selects suppliers through negotiation, finalizes orders, and reviews performance. Understanding organizational buyer behavior is important for marketing to business customers.
The organizational buying process has 8 steps:
1) Need recognition where the organization identifies an internal or external need.
2) General need description where the organization describes the characteristics and quantity of the needed item.
3) Product specification where the organization decides on technical product characteristics.
4) Supplier search where the organization identifies potential suppliers.
5) Proposal solicitation where the organization invites supplier proposals.
6) Supplier selection where the organization evaluates proposals and selects a supplier.
7) Purchase decision where the organization finalizes the order details.
8) Performance evaluation where the organization reviews supplier performance.
1. Understanding consumer behavior involves appreciating the factors that influence consumer decision making, including individual influences, group influences, situational influences, and marketing influences.
2. There are different stages in the consumer decision process, including problem recognition, information search, information evaluation, purchase decision, and post-purchase evaluation.
3. Marketers can help consumers at each stage of the decision process, such as demonstrating problems at the problem recognition stage, providing product information at the information search stage, and providing reassurance at the post-purchase evaluation stage.
The document discusses organizational buying behavior in business markets. It defines organizational buying as the process by which organizations identify needs, evaluate alternatives, and choose products and suppliers. There are key differences between business and consumer markets such as business markets having fewer but larger buyers who prefer close relationships with suppliers. The buying process involves multiple individuals and stages from recognizing needs to evaluating performance. Business marketers must understand these dynamics to effectively target their efforts.
A STUDY OF CONSUMER BUYING PREFERENCE TOWARDS LAPTOPS WITH SPECIAL REFERENCE ...Manik Mukherjee
This document discusses consumer buying behavior and preferences. It begins by defining consumer behavior as the study of how consumers search for, purchase, use, and dispose of products and services. It then discusses some key factors that influence consumer behavior, including perception, learning, and personality. It also discusses organizational buying behavior and the organizational buying decision process. Finally, it provides an industry profile on the laptop computer industry, discussing key laptop components and specifications that consumers consider when making purchasing decisions.
Consumer Decision Making Process and Changing Indian Consumers and its Impact,Consumer Profiling for a Consumer Durable product like LCD, LED, Smart Phone, etc
The document summarizes an assignment on organizational buying behavior. It discusses key differences between organizational and consumer buying processes, including more extensive analysis and formal decision making in organizations. It also outlines three types of organizational buying situations - new task, modified rebuy, and straight rebuy - and evaluates influences on organizational buyers like environmental, organizational, interpersonal, and individual factors. Finally, it explains the eight steps in organizational decision making: problem recognition, need description, specification, supplier search, proposal solicitation, supplier selection, order specification, and performance review.
Unit-I
Marketing:
Definition, general concepts and scope of marketing, distinction between marketing & selling.
Marketing environment. Industry and competitive analysis. Analyzing consumer buying
behaviour and industrial buying behaviour.
The document discusses industrial buying behavior and processes. It begins by explaining how industrial buying differs from consumer buying in that it involves the purchase of machinery, materials, and services for organizational use rather than direct consumption. Industrial buying is a complex process that typically involves multiple participants in the buying center, including initiators, users, influencers, and gatekeepers. There are three main types of industrial buying situations: straight rebuy, modified rebuy, and new tasks. The buying process generally involves recognizing needs, specifying requirements, searching for suppliers, analyzing proposals, selecting suppliers, and post-purchase evaluation. Decision making power is shared among a decision-making unit (DMU) comprising various roles within the organization. Key factors that influence
This document discusses organizational buying and the business buying process. It defines organizational buying as the process by which formal organizations identify, evaluate, and choose products and services. There are differences between business and consumer markets - business markets involve transactions between businesses while consumer markets involve direct sales to individuals. The business buying process involves multiple participants and typically includes problem recognition, defining needs, searching for suppliers, soliciting proposals, selecting suppliers, ordering, and reviewing performance. Key participants in the buying center include initiators, users, influencers, deciders, approvers, buyers, and gatekeepers.
1. The document discusses business buyer behavior and organizational buyer behavior. It defines business buyer behavior as the buying behavior of organizations that purchase goods and services for use in producing other products.
2. Characteristics of business markets are described, including that sales in business markets far exceed consumer markets. Business markets differ from consumer markets in their structure, demands, buying units, and decision processes.
3. Organizational buyer behavior involves a process that includes problem recognition, need description, product specification, supplier search and selection, ordering, and performance review.
This document discusses industry and competitive analysis in strategic management. It covers analyzing the five competitive forces that shape industry competition: threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, and rivalry among existing firms. It also discusses consumer and industrial buying behavior, factors influencing consumer behavior, types of industrial customers, classification of industrial products/services, and the eight phases of industrial buying decision processes.
Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
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3. Consumer And Business Buyer Behavior1Nitin Shukla
The document discusses consumer and business buyer behavior. It describes the buyer decision process as having 5 steps - need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. It also discusses the adoption process for new products as having 5 stages - awareness, interest, evaluation, trial, and adoption. Finally, it outlines the business buying process and key differences between consumer and business markets.
Organizational markets differ from consumer markets in several key ways. Organizational markets have fewer buyers, closer supplier relationships, geographical concentration, derived demand, larger buyers, inelastic demand, and fluctuating demand. Organizational markets include industrial markets, reseller markets, government markets, and nonprofit organizations. Organizational buying involves multiple participants and stages including problem recognition, information search, supplier evaluation, purchase, and performance evaluation. Many factors influence organizational buyers including economic considerations, personal relationships, environmental factors, organizational characteristics, interpersonal dynamics, and individual preferences.
Chapter 3: The Buying Behavior of Organizational MarketsStephanie Arogante
Organizational markets differ from consumer markets in several key ways. Organizational markets have fewer buyers, closer supplier relationships, geographical concentration, derived demand, larger buyers, inelastic demand, and fluctuating demand. Organizational markets include industrial markets, reseller markets, government markets, and nonprofit organizations. Organizational buying involves multiple participants and stages including problem recognition, information search, supplier evaluation, purchase, and performance evaluation. Many factors influence organizational buyers including economic considerations, personal relationships, environmental factors, organizational characteristics, interpersonal dynamics, and individual preferences.
The document discusses various aspects of business-to-business (B2B) marketing such as:
1) B2B marketing involves marketing products and services to other businesses rather than directly to consumers. The purpose is to make other companies familiar with the brand and convert them into customers.
2) There are key differences between B2B and business-to-consumer (B2C) marketing like the target audience, communication style, decision-making process, and goals of customers.
3) Organizational buying behavior is complex and involves multiple individuals and stages like need recognition, supplier selection, and performance review. Models like the buygrid framework and Webster and Wind model provide structure to understand this process
Buyer behavior refers to the decision-making process and actions of individuals and organizations in purchasing products. There are three main types of buyer behavior: consumer behavior by individuals for personal use, organizational buying behavior involving formal decision making by companies, and routine, limited, or extensive purchase decisions by consumers based on the complexity of the purchase. Factors that influence buyer behavior include economic, personal, psychological, socio-cultural, environmental, organizational, interpersonal, and individual considerations.
The document discusses business-to-business (B2B) markets and buyer behavior. It outlines the key characteristics of B2B products and markets including fewer but larger buyers, complex products, and fluctuating demand. The document also describes the different types of B2B buying situations, participants in the buying process, and influences on business buyers. Finally, it provides an overview of the typical 8-step buying process for businesses.
Analysing consumer buying behaviour and industrial buying behaviourSUJIT DAS
This document summarizes and compares consumer buying behaviour and industrial buying behaviour. It discusses the key determinants and factors that influence each type of buying behaviour. For consumer behaviour, it outlines internal factors like demographics, attitudes, motivations and learning that affect purchases. External factors discussed include culture, social class, family influences and the consumer decision process. For industrial buying, the stages of the decision process are presented, from recognizing needs to post-purchase evaluation. Key participants like initiators, users and influencers are also identified. Finally, the document compares consumer versus industrial buying, noting differences in purpose, quantity purchased, decision making process, knowledge levels and relationship with sellers.
Organizational buyer behavior refers to how organizations purchase goods and services for use in production or resale. It differs from consumer behavior in several ways. Organizational buying involves multiple people in a buying center and a complex decision process. This process typically begins with problem recognition, develops product specifications, searches for suppliers, solicits proposals, selects suppliers through negotiation, finalizes orders, and reviews performance. Understanding organizational buyer behavior is important for marketing to business customers.
The organizational buying process has 8 steps:
1) Need recognition where the organization identifies an internal or external need.
2) General need description where the organization describes the characteristics and quantity of the needed item.
3) Product specification where the organization decides on technical product characteristics.
4) Supplier search where the organization identifies potential suppliers.
5) Proposal solicitation where the organization invites supplier proposals.
6) Supplier selection where the organization evaluates proposals and selects a supplier.
7) Purchase decision where the organization finalizes the order details.
8) Performance evaluation where the organization reviews supplier performance.
1. Understanding consumer behavior involves appreciating the factors that influence consumer decision making, including individual influences, group influences, situational influences, and marketing influences.
2. There are different stages in the consumer decision process, including problem recognition, information search, information evaluation, purchase decision, and post-purchase evaluation.
3. Marketers can help consumers at each stage of the decision process, such as demonstrating problems at the problem recognition stage, providing product information at the information search stage, and providing reassurance at the post-purchase evaluation stage.
The document discusses organizational buying behavior in business markets. It defines organizational buying as the process by which organizations identify needs, evaluate alternatives, and choose products and suppliers. There are key differences between business and consumer markets such as business markets having fewer but larger buyers who prefer close relationships with suppliers. The buying process involves multiple individuals and stages from recognizing needs to evaluating performance. Business marketers must understand these dynamics to effectively target their efforts.
A STUDY OF CONSUMER BUYING PREFERENCE TOWARDS LAPTOPS WITH SPECIAL REFERENCE ...Manik Mukherjee
This document discusses consumer buying behavior and preferences. It begins by defining consumer behavior as the study of how consumers search for, purchase, use, and dispose of products and services. It then discusses some key factors that influence consumer behavior, including perception, learning, and personality. It also discusses organizational buying behavior and the organizational buying decision process. Finally, it provides an industry profile on the laptop computer industry, discussing key laptop components and specifications that consumers consider when making purchasing decisions.
Consumer Decision Making Process and Changing Indian Consumers and its Impact,Consumer Profiling for a Consumer Durable product like LCD, LED, Smart Phone, etc
The document summarizes an assignment on organizational buying behavior. It discusses key differences between organizational and consumer buying processes, including more extensive analysis and formal decision making in organizations. It also outlines three types of organizational buying situations - new task, modified rebuy, and straight rebuy - and evaluates influences on organizational buyers like environmental, organizational, interpersonal, and individual factors. Finally, it explains the eight steps in organizational decision making: problem recognition, need description, specification, supplier search, proposal solicitation, supplier selection, order specification, and performance review.
Unit-I
Marketing:
Definition, general concepts and scope of marketing, distinction between marketing & selling.
Marketing environment. Industry and competitive analysis. Analyzing consumer buying
behaviour and industrial buying behaviour.
The document discusses industrial buying behavior and processes. It begins by explaining how industrial buying differs from consumer buying in that it involves the purchase of machinery, materials, and services for organizational use rather than direct consumption. Industrial buying is a complex process that typically involves multiple participants in the buying center, including initiators, users, influencers, and gatekeepers. There are three main types of industrial buying situations: straight rebuy, modified rebuy, and new tasks. The buying process generally involves recognizing needs, specifying requirements, searching for suppliers, analyzing proposals, selecting suppliers, and post-purchase evaluation. Decision making power is shared among a decision-making unit (DMU) comprising various roles within the organization. Key factors that influence
This document discusses organizational buying and the business buying process. It defines organizational buying as the process by which formal organizations identify, evaluate, and choose products and services. There are differences between business and consumer markets - business markets involve transactions between businesses while consumer markets involve direct sales to individuals. The business buying process involves multiple participants and typically includes problem recognition, defining needs, searching for suppliers, soliciting proposals, selecting suppliers, ordering, and reviewing performance. Key participants in the buying center include initiators, users, influencers, deciders, approvers, buyers, and gatekeepers.
1. The document discusses business buyer behavior and organizational buyer behavior. It defines business buyer behavior as the buying behavior of organizations that purchase goods and services for use in producing other products.
2. Characteristics of business markets are described, including that sales in business markets far exceed consumer markets. Business markets differ from consumer markets in their structure, demands, buying units, and decision processes.
3. Organizational buyer behavior involves a process that includes problem recognition, need description, product specification, supplier search and selection, ordering, and performance review.
This document discusses industry and competitive analysis in strategic management. It covers analyzing the five competitive forces that shape industry competition: threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, and rivalry among existing firms. It also discusses consumer and industrial buying behavior, factors influencing consumer behavior, types of industrial customers, classification of industrial products/services, and the eight phases of industrial buying decision processes.
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Finding the perfect "Indian Clothing Store Denver" is essential for those seeking vibrant, authentic, and culturally rich attire in the heart of Colorado. Denver, a city known for its diverse culture and eclectic fashion scene, offers a variety of options for those in search of traditional and contemporary Indian clothing. Whether you're preparing for a wedding, festival, or cultural event, or simply wish to incorporate the elegance and beauty of Indian fashion into your wardrobe, discovering the right store can make all the difference.
Empowering Influencers: The New Center of Brand-Consumer Dynamics
In the current market landscape, establishing genuine connections with consumers is crucial. This presentation, "Empowering Influencers: The New Center of Brand-Consumer Dynamics," explores how influencers have become pivotal in shaping brand-consumer relationships. We will examine the strategic use of influencers to create authentic, engaging narratives that resonate deeply with target audiences, driving success in the evolved purchase funnel.
Unlock the secrets to creating a standout trade show booth with our comprehensive guide from Blue Atlas Marketing! This presentation is packed with essential tips and innovative strategies to ensure your booth attracts attention, engages visitors, and drives business success. Whether you're a seasoned exhibitor or a first-timer, these expert insights will help you maximize your impact and make a memorable impression in a crowded exhibition hall. Learn how to:
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Conferences like DigiMarCon provide ample opportunities to improve our own marketing programs by learning from others. But just because everyone is jumping on board with the latest idea/tool/metric doesn’t mean it works – or does it? This session will examine the value of today’s hottest digital marketing topics – including AI, paid ads, and social metrics – and the truth about what these shiny objects might be distracting you from.
Key Takeaways:
- How NOT to shoot your digital program in the foot by using flashy but ineffective resources
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Mindfulness Techniques Cultivating Calm in a Chaotic World.pptxelizabethella096
In today’s fast-paced world, stress and anxiety have become common companions for many. With constant connectivity and an unending stream of information, finding moments of peace can seem like an insurmountable challenge. However, mindfulness techniques offer a beacon of calm amidst the chaos, helping individuals to center themselves and find balance. These practices, rooted in ancient traditions and supported by modern science, are accessible to everyone and can profoundly impact mental and emotional well-being.
Basic Management Concepts., “Management is the art of getting things done thr...DilanThennakoon
The managers achieve organizational objectives by getting work from
others and not performing in the tasks themselves.
Management is an art and science of getting work done through people.
It is the process of giving direction and controlling the various activities
of the people to achieve the objectives of an organization Management is a universal process in all organized, social and economic activities. Wherever
there is human activity there is management.
Management is a vital aspect of the economic life of man, which is an organized group activity. A
central directing and controlling agency is indispensable for a business concern. The productive
resources –material, labour, capital etc. are entrusted to the organizing skill, administrative ability
and enterprising initiative of the management. Thus, management provides leadership to a
business enterprise. Without able managers and effective managerial leadership the resources of
production remain merely resources and never become production. Management occupies such an
important place in the modern world that the welfare of the people and the destiny of the country
are very much influenced by it.
1.2 MEANING OF MANAGEMENT
Management is a technique of extracting work from others in an integrated and co-ordinated
manner for realizing the specific objectives through productive use of material resources.
Mobilising the physical, human and financial resources and planning their utilization for business
operations in such a manner as to reach the defined goals can be benefited to as management.
1.3 DEFINITION OF MANAGEMENT
Management may be defined in many different ways. Many eminent authors on the subject have
defined the term "management". Some of these definitions are reproduced below:
In the words of George R Terry - "Management is a distinct process consisting of planning,
organising, actuating and controlling performed to determine and accomplish the objectives by the
use of people and resources".
According to James L Lundy - "Management is principally the task of planning, co¬ordinating,
motivating and controlling the efforts of others towards a specific objective",
In the words of Henry Fayol - "To manage is to forecast and to plan, to organise, to command, to
co-ordinate and to control".
According to Peter F Drucker - "Management is a multipurpose organ that manages a business and
manages managers and manages worker and work".
In the words of J.N. Schulze - "Management is the force which leads, guides and directs an
organisation in the accomplishment of a pre-determined object".
In the words of Koontz and O'Donnel - "Management is defined as the creation and maintenance
of an internal environment in an enterprise where individuals working together in groups can
perform efficiently and effectively towards the attainment of group goals".
According to Ordway Tead - "Management is the process and agency which directs and guides the
operations of an organisation in realising of established aim
2. 2. Institutional Customers:
-Institutional customers consist of individuals or groups who purchase a
specific kind of product for three purposes:-resale, direct use in producing
other product, or use in general daily operations.
-In other words, customers who purchase goods for sales to final consumers
for orgnizational utilization, or for processing purposes are known as
institutional customers.
-The institutional customers are also known as organizational customers or
buyers. So they do organizational buying.
-Organizational buying refers to the buying behavior of organizations that
they purchase the products for re-production, re-sale and institutional
usage, such as educational organization, government, producers,
wholesalers, retailers and private organizations.
-Prodcucers buy primary goods and capital goods for producing various kinds
of commodities. Wholesale firm buy from manufacturers or producers for
sale to retail outlets. Government deparment and agencies make purchases
for official use. Non-government organizations also make purchases for
their own use. They are all institutional customers.
3. Features/ Characteristics of Institutional
Customers:
There are various characteristics of institutional buyers.
Principal characteristics are the following:
Numbers of buyers:
Few buyers purchase high volume of quantity in
geographically concerntrated area.
Demand:
The demand is derived from the demand of consumer
products. In this way, it has derived demand. The total
demand is inelastic. It is not affected by the changes in
price. But there is change in price of organizational product,
it directly affect the consumer product price and national
economy.
Relationship:
The relationship between supplier and organizational
customer is close. Due to few numbers of customers they
can develop good relationship for future.
4. Continue.....
Rationality:
Buyers are well informed about competitors, price,
quality, quantity, buying criteria and services.
Professionalism:
Purchase policy and documentations process is
necessary to the organizational buying. Professional
and trained people are involved in purchase decision
and purchase process.
Channel:
The channel structure of the organizational buying may
be direct from manufacturer to users and sometimes it
may be manufacturers to sales agent to users.
Buying influences:
Organizational buying decision involved in different
parties at the buying process. Different participants and
decision maker influence to the buying decision.
5. Buying Process of
Institutional/Organizational Customers:
There are seven steps in the institutional or
organizational buying process. Organizational
buying process varies on the nature of organization
volume and aomout of the purchase. The most
commonly used buying process are:
Step 1: Need/Problem Identification
Step2: Determining product specification
Step3: Identification of suppliers
Step 4: Inviting proposals
Step 5: Evaluation of proposals
Step 6: Purchase decision
Step 7: Performance Evaluation
6. 1. Need/Problem Identification:
Institutional buying starts with the identification of
a need or a problem in the organization. The need
may result when the inventory level decreases,new
product are being introduced, existing products are
being modified, or the organization is planning the
introduction of a new technology. The buying
group decides on the specific details of the nature
of the need, product requirements and quality
levels and so on.
7. 2. Determining product specifications:
The buyers determine the need item’s
characteristics such as the product quantity, quality,
price, method of payment, mode of payment,
delivery date, place, design of the product etc.
3. Identification of Suppliers:
One the need is identified and product
specifications are determined, the buying group
identifies the potential sources of the supply of
products and potential suppliers. In case of
regularly purchased supplies institutions buy from
the established suppliers. In this step, the buyer
tries to identify pre-qualification of suppliers.
8. 4. Inviting proposals:
The fourth step in the institutional buying process is to
invite poposals from reliable suppliers. Business
organizations directly contact the possible suppliers
and ask for simple but detailed proposals, while
governement and social institutions invite formal bids.
The proposals and bids contain information on price,
quantity,quality, delivery schedule and other terms and
conditions of sale.
5. Evaluation of proposal:
The buying group evaluates all the proposals received
from the suppliers on their true merits. The buying
group uses reputation of the supplier, past experience,
size of operation, finanical and technical capablilities to
arrive at a decision regarding the selection of the
supplier.
9. 6. Purchase decision:
After selecting supplies, they make purchase decision.
While making purchase decision, the buyers should be
clear or they take specific details about the terms of
sales, credit arrangement, technical and additional
services.
The purchase decision is taken only after long and
serious negotiation over the terms and condition of
sale. Institutions may place an order for one time supply
and enter into a contract for regular supply.
7. Performance evaluation:
The performance evaluation process takes three types
of action. These actions are: to continue to the current
supplier, modify and end the relationship with the
supplier. The buyer may rate the supplier on several
criteria to increase the firm performance. The buying
steps involved in a way task buying situation, in modigy
re-buy process and straight re-buy condition, some
steps can be compressed or by passed.
10. Factors afefcting of Institutional Buying
decisions :
Organizational buying decisions are influence by several
factors. It helps to identify and implement new strategy to
the marketer.
1. Environmental Factors:
-Economic
-Technological
-Political and Legal
-Social Resposibility
2. Organizational Factors:
-Buying obectives
-Buying Policies
-Buying Procedures
-Organizational structure
12. 1. Environmental Factors
Environmental factors includes economic factors, technological
fator, political legal factors and social responsibility factors:
a. Economic factors:
The economic condition of the country determined several factors
such as level of demand, production facility, consumption pattern,
investment, economic health, competition and saving. The
economic condition determines the consumer purchasing power.
The demand of organizational products are directly related to the
demand of the consumer products. Therefore, change in the
economic condition of a country affect the total demand of
buyers, production facility to the manufacturers, consumption
pattern to the people, investment capacity to the investors and
competition power to the manufacturers for organizational
product.
b. Technological factors:
The level of technology, pace of technological changes and
innovation capacity directly affect the organizational buying
decision. Technological changes affects the production process,
packaging, communication and transportation. Fast growing new
technology creates a revolution in purchasing and selling pattern ,
information search, and material management.
13. 1. Environmental Factors
c. Political factor:
The political stability and favorable climate affects the
organizational buying. The favorable political climate creates
investment and production opportunity, increase in business
transactions and increases demand of the products and services.
d. Legal factors:
The organizational buying is also influenced by the regulatory
provisions imposed by the governement. Governement rules and
regulations directly affects.
e. Social responsibility factors:
The investor’s benefit increases socially accepted goods and
services. The environmental pollution issues, consumer health
issues child labor issues, social responsibility issues influences the
product production. These are the serious rising issues in the
business field. These factors influence the organizational buying.
14. 2. Organizational Factors:
Organizational factors such as the buying objectives,
policies, procedures and organization structure have major
influences on the organization buying.
a. Buying objective:
Different organization have different buying objectives. Every
organization sets its buying objectives. The buying objectives
should match the organizational objectives. If organization
has followed a quality leadership objective. The buying
actions should be directed by quality oriented as well as their
purchase decision of raw materials should be qualitative not
cheaper.
b. Buying Policies:
The organizational policies provide guidelines for buying
decisions. If the raw materials purchasing policy is to buy
from national supplier, they must follow it. Similarly, if the
producers want to implement Nepalese technology, they
should be aware to implement about this policy.
15. 2. Organizational Factors:
c. Buying procedures:
The buying procedure represents buying
documentation. The organizational buying varies in
different organizational market. In the orgnizational
buying various documentation process and procedures is
required for purchasing and they must follow it.
Government requires sealed bid and tender for every
large purchase.
d. Organizational structure:
Structure of the orgnization also affects to the
organizational buying decision. The organizational
buying should depend on the boudary of authority,
responsibility and relationship.
16. 3. Interpersonal Factors
The organizational buying decision involves in the individual
personnel or staffs with different interest, status, authority and
persuasiveness. These interpersonal factors affect the
organizational buying decision.
a. Authority:- Organizational buying is based on authority. The
organization has a different members and it has a long hierarchy
of authority. The organizational buying is influenced by the
authorized people, who have athority of final decision.
b. Interest:- Organizational buying process involves in different
participants they are, initiator, users, influencer, deciders,
approvers, buyers and gatekeepeers. All these participants have
their own interesst on buying process. They influence buying
decision.
c. Status:- The status determine the job position and role
performed in the organization. The buyer’s status influences
producer and supplier selection process.
d. Persuasiveness:- Persuasiveness is the power and experience of
the buyers who can decide own capabiity. It includes experience,
technical capacity, and product and supplier selection capacity of
individual or group of buyers. It affects the buying decision.
17. 4. Personal factors:
The buyers’ personal motivation, perception and preferences differ in different
people, which are influence by the buyer’s age, income education, job position
and personality.
Age: At the buying process young people want new branded product and they
want building new relationship with the different suppliers. An old person
wants to continue exsisting product and they want to establish good
relationship with suppliers. Age factor affect the perception of buyers.
Income : An Income level of buyers affects the buying decision. Personal
motivation and interest becomes buying decisions on the base of income.
Organizational buying depends on people ‘s interest.
Education:
In organizatinal buying rational and educational buyers carefully search and
evaluate different products and suppliers. They use different important
information and compare brand, quality,competitors and delevery system while
buying process. The buyer’s eduational level represents on the buying decision
process.
Job Position: . A job position represents the hierarchy of the organization.
Hierarchy is based on the authority and decision power. The authority and
power level of the buyer’s influence on the process of buying decision.
Personality: .
The personality factors differ from buyers to buyers. It is an internal
structure, traits, appearance and confidence which help to influence buying
responses. Buyer’s personality represents on selection of brand, quality,
purchase behavior and traits with the product and sellers.
18. Thank you !
Hope to see you as an
Enthusiastic, Motivated and
Successful Professional
Manageer and Leader of the
organization!